What is a Loan EMI Calculator?
A Loan EMI (Equated Monthly Installment) calculator computes the fixed monthly payment you must make to repay a loan over a specified tenure at a given annual interest rate. It uses the standard EMI formula so results are precise and suitable for planning finances.
Benefits
- Quickly evaluate monthly affordability.
- Compare different interest rates and tenures.
- See total cost of the loan (principal + interest).
- View amortization schedule to understand how interest/principal change over time.
How to use
1. Enter the Loan Amount (principal).
2. Enter the Annual Interest Rate as a percentage (e.g., 7.5).
3. Enter the Tenure and select whether it is in years or months.
4. Click Calculate EMI. The monthly EMI, total payment and total interest will display. Check the amortization schedule if needed.
Example
Loan Amount: 1,000,000 — Interest: 7.5% p.a. — Tenure: 10 years (120 months).
Result: Monthly EMI ≈ 11,936.03, Total Payment ≈ 1,432,323.60, Total Interest ≈ 432,323.60.
